[Federal Register Volume 59, Number 89 (Tuesday, May 10, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-10926]


[[Page Unknown]]

[Federal Register: May 10, 1994]


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DEPARTMENT OF THE TREASURY
Fiscal Service

31 CFR Part 347

[Department of the Treasury Circular, Public Debt Series No. 22-75]

 

Regulations Governing 2 Percent Treasury Bonds--REA Series

AGENCY: Bureau of the Public Debt, Fiscal Service, Department of the 
Treasury.

ACTION: Final rule.

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SUMMARY: This final rule amends Title 31 by removing Part 347. The 
action is being taken because all outstanding 2 Percent Treasury 
Bonds--REA Series, have been redeemed and such bonds are no longer 
being offered.

EFFECTIVE DATE: May 10, 1994.

FOR FURTHER INFORMATION CONTACT: Fred Pyatt, Director, Division of 
Special Investments, Bureau of the Public Debt, Parkersburg, WV (304) 
480-7752.

SUPPLEMENTARY INFORMATION: Department of the Treasury Circular, Public 
Debt Series, No. 22-75, dated July 10, 1975, provides for the offering 
of 2 Percent Treasury Bonds--REA Series. 2 Percent Treasury Bonds--REA 
Series are offered by the Department of the Treasury to borrowers from 
the Rural Electrification Administration, U.S. Department of 
Agriculture. The bonds bear an interest rate of 2 percent per annum, 
payable on a semi-annual basis, and mature 12 years from the issue 
date.
    All outstanding 2 Percent Treasury Bonds--REA Series have been 
redeemed by the Department of the Treasury and the REA has terminated 
the bond program. Accordingly, part 347, which sets the terms for the 
offering of these securities, is unnecessary and, therefore, should be 
removed from Title 31 of the CFR.

Procedural Requirements

    This final rule does not meet the criteria for a ``significant 
regulatory action'' pursuant to Executive Order 12866. Therefore, the 
regulatory review procedures contained therein do not apply. Because 
this final rule relates to public contracts and procedures for United 
States securities, the notice, public comment and effective date 
requirements of the Administrative Procedure Act (5 U.S.C. 553(a)(2)) 
are inapplicable. As no notice of proposed rulemaking is required, the 
provisions of the Regulatory Flexibility Act (5 U.S.C. 601, et seq.) do 
not apply. There are no collections of information required by this 
final rule, and, therefore, the Paperwork Reduction Act does not apply.

List of Subjects in 31 CFR Part 347

    Banks, Banking, Bonds, Electronic funds transfer, Government 
securities.

PART 347--[REMOVED]

    Accordingly, under the authority at 31 U.S.C. 3105 and 5 U.S.C. 
301, 31 CFR Part 347 is hereby removed.

    Dated: May 3, 1994.
Gerald Murphy,
Fiscal Assistant Secretary.
[FR Doc. 94-10926 Filed 5-9-94; 8:45 am]
BILLING CODE 4810-39-W